If you are in the business of exporting or importing goods and other tangible items from overseas countries, then you must be familiar with the term custom freight. This is one of the ways the government applies to collects revenue to finance its projects to benefit the citizens of a particular country. This article is meant to provide a clear explanation of what the term means and how it applies to inter-country trade.
Many ways exist for which the government can earn revenue through taxation. Countries all over the world have been quick to take advantage of the ever-expanding international trade. Apart from raising revenue, the custom clearance exercise is done to inspect the goods that enter or leave the country. This is meant to put a check on illegal trade practices, and entry of harmful commodities in a state.
Now that we know that the term refers to, the next step is to know what documents you need to present to the clearance authorities at the port. The bill of lading is one piece of documentation that any shipper is required to provide at the point of entry. It contains basic information about the consignment as well as the destination of the goods. The shipper provides it to the carrier.
Another standard documentation needed at the point of entry is the packaging slip otherwise known as packing slip. The attachment is made on the consignment at a portion that is visible to the customs brokers. It provides more information that might not have been captured by the bill of lading. It is meant to satisfy all the parties such as government officials, the transit agencies about the contents of the shipment.
Though this type of freight documentation is standard for all consignments, there is a slight difference in requirements between exporters and importers. If you are the latter, then you will have to furnish the customs broker with a purchase order, a sales invoice as well as a certificate to indicate the exact origin of the shipment. In some cases, more clearance documents may be requested depending on the nature of your consignment.
If you are in the business of imports, then it will be mandatory to present a sales invoice from your overseas supplier, purchase order from the buyer and a certificate of origin indicating the source location of the commodities. Bill of lading or otherwise known as air waybill, packaging lists and the bill of shipping is standard for all import transactions. Additional requirements may be needed by the regulatory agencies if further clarification is necessary.
Once you are in possession of all the requisite clearance forms, then it is time to get in touch with an expert in the field of customs clearance. It is advisable that you do your research to be aware of what goes on in the ports during the clearance process. Being knowledgeable can save you a lot of money and time when dealing with brokerage firms. Also, ensure that the brokers who handle your clearance have the relevant experience.
The entire process will involve a few costs to ensure your commodities are handles in the right way. Warehousing cost is necessary since your good will are received and stored in this chambers awaiting clearance. Custom prices and freight costs will vary depending on the type of goods you have and the duration your package spends at the port.
Many ways exist for which the government can earn revenue through taxation. Countries all over the world have been quick to take advantage of the ever-expanding international trade. Apart from raising revenue, the custom clearance exercise is done to inspect the goods that enter or leave the country. This is meant to put a check on illegal trade practices, and entry of harmful commodities in a state.
Now that we know that the term refers to, the next step is to know what documents you need to present to the clearance authorities at the port. The bill of lading is one piece of documentation that any shipper is required to provide at the point of entry. It contains basic information about the consignment as well as the destination of the goods. The shipper provides it to the carrier.
Another standard documentation needed at the point of entry is the packaging slip otherwise known as packing slip. The attachment is made on the consignment at a portion that is visible to the customs brokers. It provides more information that might not have been captured by the bill of lading. It is meant to satisfy all the parties such as government officials, the transit agencies about the contents of the shipment.
Though this type of freight documentation is standard for all consignments, there is a slight difference in requirements between exporters and importers. If you are the latter, then you will have to furnish the customs broker with a purchase order, a sales invoice as well as a certificate to indicate the exact origin of the shipment. In some cases, more clearance documents may be requested depending on the nature of your consignment.
If you are in the business of imports, then it will be mandatory to present a sales invoice from your overseas supplier, purchase order from the buyer and a certificate of origin indicating the source location of the commodities. Bill of lading or otherwise known as air waybill, packaging lists and the bill of shipping is standard for all import transactions. Additional requirements may be needed by the regulatory agencies if further clarification is necessary.
Once you are in possession of all the requisite clearance forms, then it is time to get in touch with an expert in the field of customs clearance. It is advisable that you do your research to be aware of what goes on in the ports during the clearance process. Being knowledgeable can save you a lot of money and time when dealing with brokerage firms. Also, ensure that the brokers who handle your clearance have the relevant experience.
The entire process will involve a few costs to ensure your commodities are handles in the right way. Warehousing cost is necessary since your good will are received and stored in this chambers awaiting clearance. Custom prices and freight costs will vary depending on the type of goods you have and the duration your package spends at the port.
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